New Delhi: Prime Minister Narendra Modi on Monday stated that the government is working to ensure uninterrupted oil and gas supplies amid the conflict in West Asia, while emphasising that India has diversified its energy imports, unlike in previous instances, and will continue sourcing from wherever possible.
Initially, India imported energy needs such as crude oil, LNG, and LPG from 27 countries. Now, it imports energy from 41 countries.
The Prime Minister, addressing the Lok Sabha on the West Asia crisis, spoke about the energy security concerns of the country, said, “A large quantity of crude oil, gas, and fertilisers — many essential items — come to India through the Hormuz Strait route. Since the war began, the movement of ships through the Hormuz Strait has become very challenging. Despite this, our government has made efforts to ensure that the supply of petrol, diesel, and gas is not severely impacted.”
PM Modi stated that India imports 60 per cent of its LPG requirement and due to uncertainty in supply, the Centre has “prioritised domestic LPG consumers”.
“At the same time, domestic production of LPG is also being increased. Continuous efforts have also been made to ensure that the supply of petrol and diesel across the country remains smooth,” he said.
Highlighting the steps taken by the BJP-led government in the Centre over the last decade towards energy security, the Prime Minister said, “In the past 11 years, India has diversified its energy imports. Previously, energy needs such as crude oil, LNG, and LPG were imported from 27 countries. Today, India imports energy from 41 countries.”
He further highlighted India’s strategic steps to ensure energy security amid the ongoing conflict.
In the last decade, he said that India has prioritised storage of crude oil for times of crisis and today, the country has a strategic petroleum reserve of more than 53 lakh metric tonnes. He mentioned that the work is underway to create reserves of more than 64 lakh metric tonnes. The reserves held by Indian oil companies are separate, he added.
“In the last 11 years, our refining capacity has also increased significantly. The government is continuously in touch with suppliers from different countries, making efforts to ensure that oil and gas supplies continue from wherever possible. The Government of India is keeping a constant watch on Gulf and overseas shipping routes,” he said.
“Our endeavour is that ships carrying essential items like oil, gas, and fertilisers reach India safely. We are in constant communication with all our global partners to ensure that our maritime corridors remain safe. Due to such efforts, several of our ships stranded in the Hormuz Strait have also arrived in India in recent days,” PM Modi added.
(IANS)
